The related topic became a mish-mash with a lot of mindless bashing. So here we go again.
I have to say that some posters here are either paid to bash other posters or are mentally unstable. It may be a bit of both. I am going to put them on ignore, because reading their garbage is time-wasting. Click!
Now to the rest. I may have jumped on the 5M shares statement. Somebody gave a link to insider transactions for the last 6 months, which totalled 27,500 shares. My question was on 5M, which may be impossible to track back. Again, maybe somebody could find a source. It doesn't solve the problem, but it would explain how they got to own 5M shares.
I have trouble with posters who defend the kind of performance that AHT management has executed, at least for the last 12 months. To say that gambling investor funds on risky loans is the way to go, when the business is running hotels is stretching it IMHO. But that's how I see it. And I was lucky to buy a few shares at very low prices. I suspect that some here may have a very heavy commitment and are now crying the blues over the losses. I simpathise with those folks.
I don't live near the Dallas area, but it may be a suggestion for some who live in the area to attend the next shareholder meeting and have some prepared and embarassing questions for management to answer. It may get the attention of major shareholders to ask the BOD for change in leadeship.
I was expressing my views on management to gamble away some $138MM on risky mortgages (and there may be more) while they max out on the lines of credit to build cash, at the same time zeroing out dividend. The smart money caused the stock to go from 8 to 1, before anyone else knew what was happening. That's mismanagement, IMO and I hope there is a class action.
Now to you. Either you are a paid basher or are a sore loser, trying to defend your bad investment. But I really don't care who you are or what you did, because what you say doesn't mean diddly squat to me. Next time you might respect what others have to say and keep your mouth shut. In the meantime you are on ignore. Click!
You are making a classical mistake everyone makes:
In good times everyone is happy and no one wants to "rock the boat" by asking critical questions.
In bad times people start asking questions, but by then it's too late as the previous bad decisions have taken effect.
Where were you 1 year ago when AHT was at $12? It's very easy to be a critic when a stock is near an all time low.
I'm not going to play this stupid game of second guessing management when no one was asking any critical questions a year ago. AHT management is very good and they have my full support, irregardless of the current stock price.
<<In bad times people start asking questions, but by then it's too late as the previous bad decisions have taken effect.
Where were you 1 year ago when AHT was at $12? It's very easy to be a critic when a stock is near an all time low.>>
You missed my point. When the banks were bleeding late in 2007, AHT was busy giving 2nd mortages (not 1st) to questionable enterprises with the hope that they could take over if there was default. If you are going to do that you should be prepared to have deep pockets in order to bring the operation back to health. Instead, AHT was operating on the edge and finally had to max out their lines of credit just to stay alive and forego a dividend to the common while their risky mezzanines were going sour.
I call that mismanagement.
I was not around 1 year ago when the stock was at 12. I came in at 3. I made a stink on this board because the stock was going to the gutter very quickly from 8, and nothing to explain it. Now that the stock is at 1 we have the explanation. Thank you very much.
That has to be the most naivety I have heard all day. To tell shareholders and retires who have lost tremendous value in 2008 because of terrible management to just “accept silently” and move on is completely idiotic.
This is not a democracy whereas we vote if we like the guys, this is a free market whereas the market votes for us. The free market dictates praise when all is going well and justifiable critics when it is not. Shareholders expect and deserve complete transparency and leadership from Directors during both bull and bear markets. The fact that the company tightened up in almost complete silence over the last several months was a complete turnaround from all the wonderful statements and plethora of press releases.
Any company and Director that waits in the darkness of night until a Holiday week during the last days of the year to finally admit vaguely they are hurting shows complete incompetence and frankly opens the Directors to class action suits from shareholders. That is complete recklessness and this pattern will not motive buyers when the upswing arrives.